A Declaration of Homestead is a legal document that establishes a homeowner's protection under homestead laws, often providing creditor protection for the primary residence.
Home sale tax, governed under Section 121 of the Internal Revenue Code, involves tax exclusions for gains when selling a primary residence under specific conditions.
Homestead status is a legal protection provided to a homeowner's principal residence by some state statutes, which protects the home against certain judgments up to specified amounts.
A homestead estate refers to a legal provision that helps to protect a primary residence from being used to settle debts with creditors, known as homestead laws. These laws offer homeowners a certain degree of financial security by exempting their property from forced sale under certain conditions.
A data series produced by the Bureau of Labor Statistics, Owners' Equivalent Rent (of Primary Residence) is used in compiling the Consumer Price Index (CPI) to track the rental value that the average owner-occupied home would command in the market.
A primary residence, often referred to as a principal residence, is the main home where an individual resides most of the time. This contrasts with a second home or vacation home.
